Good morning, TexMessagers! Do you think that Rep. Green will be successful in implementing these credit history pilot programs?

TEXclusive

Last week, Rep. Al Green (D-Houston) introduced two new bills to the House of Representatives: the FHA Alternative Credit Pilot Program Reauthorization Act of 2013 and the Federal Housing Administration In-Person Servicing Improvement Act of 2013 in the House of Representatives.

The first piece of legislation will effectively extend the reach of the Secretary of the Department of Housing and Urban Development in order to orchestrate a pilot program to assess whether or not applicants for loans from the Federal Housing Administration who do not meet the acceptable credit history standards are able to obtain a credit score through an automated process.

This delegation of power to the Secretary of Housing and Urban Development grants the power to determine what the automated process can include when whether the applicant can be accepted for a loan. Factors often taken into account include rent and utilities.

The groups most commonly effected by poor credit history are the elderly, those under 25 years of age, African-Americans, Hispanics and members of low-income households.

“This critical legislation represents one more step forward in responsibly expanding access to homeownership to hardworking persons who pay all of their bills in a timely manner, including rent which often exceeds a mortgage,” Green said in a press release. “Homeownership is essential to moving our economic recovery forward and expanding our middle class.”

The latter bill will build a personal relationship between the firms issuing the loans and the individual borrowing. This way, those who may be in danger of becoming homeless due to late payments would be notified in a more timely manner, in the hopes of cutting down on home foreclosures.

“This common-sense legislation gives those people who have sought to own a home through FHA loans, all the information and assistance necessary for them to meet their obligations as well as remain responsible homeowners,” Green said.

“I’m pretty much as liberal as they come and even I think SJL is a horses’ patootie and a disgrace to her district and to Houston and Texas.”

Today:

★ The House Committee on Homeland Security has a hearing on TSA integrity challenges and examining misconduct by airport security personnel.

★ The Senate Judiciary Committee has a hearing to examine strengthening privacy rights and national security, focusing on oversight of the Foreign Intelligence Surveillance Act (FISA) surveillance programs.

★ The Senate Commerce, Science, and Transportation Committee has a hearing to examine energy drinks, focusing on exploring concerns about marketing to youth.

Tomorrow and beyond:

★ August 1 The House Committee on Homeland Security has a hearing over West fertilizer and the problem of unidentified chemical facilities.

★ August 1 The Senate Appropriations Committee has a business meeting to markup proposed legislation making appropriations for fiscal year 2014 for the Department of Defense.

★ August 2 The House Committee on Homeland Security has a hearing on border security planning and applying overseas lessons learned to the homeland.

Today in Texas History:

On this date in 1966, Charles Joseph Whitman, a student at the University of Texas at Austin, killed his own mother and wife. The next day, he murdered 12 more people and wounded 32 others on the university’s campus. The press referred to the event as the “Tower Massacre.” More>>>